WSJ Reports Make Crypto Bounce πŸ“ˆ

The Wall Street Journal reports that crypto-billionaire Justin Sun, creator of the TRON blockchain, is still considering a deal with FTX and has indicated that β€œall options are still on the table.”

  • Recall that reports of Sun’s interest in bankrupt exchange Sam Bankman-Fried had already surfaced and caused a huge bounty in TRON’s FTX listing;
  • On November 11, 2022, Justin Sun, head of Tron blockchain, announced a loan that would allow some FTX customers to securely withdraw capital from the exchange via Tron-linked assets. Back then, FTX clients bought TRX in bulk to make it easier to process withdrawals from the exchange.

Bitcoin is back above $16,000. Altcoins saw the biggest gains: Polygon, Chainlink, Litceoin, and Curvedao, all up nearly 20%.

POLYGON, interval H1. Polygon cryptocurrency climbed above the 50-session moving average (black line). The closest resistance levels are likely to be found in the $0.85-$0.90 range, where the 200-session moving average (red line) and the price levels before the last drop on Nov 20-21. Source: xStation5

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